Table of Contents
- How much does renters insurance cost in Massachusetts?
- Average price of renters insurance in Massachusetts
- The cheapest renters insurance in Massachusetts: Lemonade
- The best renters insurance in Massachusetts: Liberty Mutual
- Other Massachusetts renters insurance providers you should consider
- What else do you need to know about renters insurance in Massachusetts?
- How we gathered our data on Massachusetts renters insurance prices
How much does renters insurance cost in Massachusetts?
Massachusetts’s renters insurance costs $21.69 per month on average, which is more expensive than the national average of $20. Depending on the insurer you choose, you could end up paying anything from $15 to $34 per month for a standard policy. Lemonade offered the lowest rate we received ($10.50 in Quincy), while Farmers offered the most expensive ($37.42 in Somerville).
On average, renters insurance in Boston (which costs $23.68 on average) is pricier than anywhere else in the state. That isn’t surprising given that the city is prone to severe hailstorms and has a high crime rate, which are common reasons for renters insurance providers to raise their prices.
There are other factors your insurer will consider when they decide how much to charge you, including:
- Claim history: If you’ve filed several claims in the past few years, your renters insurance premiums will go up.
- Zip code: If your insurer knows that you live far away from a fire station, you’ll also have to pay more for a policy.
- Amount of coverage: If you want to significantly increase your personal property or personal liability coverage, your premiums will shoot up.
Average price of renters insurance in Massachusetts
The tables below show the data we collected on Massachusetts’s renters insurance prices.
Average price of renters insurance in Massachusetts by city
This table shows the average price of renters insurance in each of Massachusetts’s most populous cities.
|City||Average price (monthly)||Average price (yearly)|
Average price of renters insurance in Massachusetts by insurance company
The following table shows the average monthly and yearly prices of renters insurance in MA.
|Insurer||Price||Difference from average|
The cheapest renters insurance in Massachusetts: Lemonade
On average, Lemonade sells renters insurance for $14.56 a month, which makes them the cheapest provider in Massachusetts. Lemonade’s insurance is 33% cheaper than the state average.
However, GEICO is only marginally more expensive at $15.16. In some cities, GEICO is actually cheaper than Lemonade. For example, GEICO charges $12.42 for renters insurance in Boston, while Lemonade charges $18.83. We recommend that you check our complete data sheet at the end of this article to find the most affordable provider in your city.
Should you get Lemonade’s renters insurance in Massachusetts?
Although they’re the cheapest insurer, Lemonade isn’t necessarily the best. Take a look at the following pros and cons:
Benefits of Lemonade renters insurance in Massachusetts
- Coverage: As we’ve already mentioned, Lemonade offers the most affordable renters insurance in the state. They also offer a respectable amount of coverage, which makes their prices all the more impressive. For example, every Lemonade policy includes replacement cost coverage, which protects your belongings more than actual cash value coverage.
Disadvantages of Lemonade renters insurance in Massachusetts
- No bundling options: If you were hoping to buy auto and renters insurance policies together from Lemonade for a discount, think again. Lemonade doesn’t sell auto policies, so you won’t be able to bundle. This is disappointing, and if you have a car, it may mean that Lemonade won’t be your most affordable option anymore, since bundling your policies is the best way to save money on insurance.
If you’re after run-of-the-mill renters insurance at a cheap price, Lemonade isn’t a bad choice. However, if you want the best policy in the state, there’s a better option.
The best renters insurance in Massachusetts: Liberty Mutual
We recommend Liberty Mutual if you want the best renters insurance Massachusetts has to offer. Their standard policies provide solid coverage and they offer a wide array of renters insurance endorsements.
Benefits of Liberty Mutual renters insurance in Massachusetts
- Plenty of discounts: Liberty Mutual offers competitive prices ($17.51 on average), which makes them around $4 cheaper than the state average. They’re also the only provider we found that offered five discounts, including one for switching to them from another provider.
- Flood insurance: Liberty Mutual is one of the few providers we surveyed that is still partnered with the National Flood Insurance Program (NFIP), a non-profit that underwrites flood policies. If you live in a coastal city like Quincy and want better protection, your local Liberty Mutual agent will sell you renters and flood insurance together.
Disadvantages of Liberty Mutual renters insurance in Massachusetts
- Limited personal property coverage: In most cases, Liberty Mutual will only insure your personal property for up to $25,000. Since the average tenant owns around $30,000 of personal property, that amount might be inadequate, especially if you have lots of valuables to protect. They do offer a rider that adds more renters insurance coverage for jewelry, although it will increase your premiums.
Other Massachusetts renters insurance providers you should consider
The best renters insurance policy is one that’s tailored to your circumstances and needs, which is why we’ve also picked recommendations for the following:
- People with auto or life insurance
- People who want extra liability coverage
- First-time renters
Best Massachusetts renters insurance for people with auto or life insurance: Your current auto insurer or Farmers
You can usually get around a 5-10% discount on your auto insurance policy when you buy your renters insurance from the same provider. Generally, that kind of discount on your auto insurance can save you hundreds of dollars per year, which is more than you would save with a discount on renters insurance alone.
However, if you don’t have a car but still want to save on insurance, we recommend that you go to Farmers. Most renters insurers limit you to bundling auto and renters insurance, but Farmers will also let you save when you buy renters and life or umbrella policies together.
Best Massachusetts renters insurance for people who want extra liability coverage: Farmers
Massachusetts is one of the richest states in America, which means there are a lot of wealthy people who need more coverage than renters insurance typically provides. We recommend Farmers’ umbrella insurance, which kicks in once you reach the limit on your personal liability coverage.
Farmers is your best option in Massachusetts because their extra protection ranges from $1 million to $10 million, which is broader than many of their competitors offer. (For instance, Liberty Mutual offers a maximum of $3 million, and Allstate offers $5 million.)
It doesn’t matter whether your renters insurance policy is with a different provider; Farmers will still sell their umbrella insurance to you, which some companies won’t do.
Best Massachusetts renters insurance for first-time renters and college students: Lemonade, or your parents’ provider
If you’re a college student looking for renters insurance on a budget, Lemonade is the obvious choice. They provide cheap renters insurance, fast claims handling (they set a world record of 3 seconds for a payout), and they default to replacement cost coverage.
However, if your parents already have homeowners insurance and you live in a college dorm on campus, you might already be covered, in which case you don’t need renters insurance.
Be aware that depending on your provider, you might only receive 10% of your parents’ personal property coverage. Your parents might be able to buy an endorsement to increase this limit, which is generally cheaper than buying your own renters insurance separately.
How to learn more about renters insurance providers in Massachusetts
If you’re still unsure which provider to go with, read our reviews of the best renters insurance companies in MA:
- State Farm (although they don’t sell renters insurance in MA)
What else do you need to know about renters insurance in Massachusetts?
Before you buy renters insurance in MA, you should be aware of the following:
You can get discounts as a university alumnus or employee
If you work or study at a university in Massachusetts, you’re probably eligible for discounts on your renters insurance. For example, Liberty Mutual offers a special discount for alumni and employees of Boston University.
Similarly, employees enrolled in Harvard University’s auto and home insurance program are eligible for discounts from the following providers:
- Liberty Mutual
Call your local insurance agents to find out if you’re entitled to any university-affiliated discounts.
State Farm isn’t available in Massachusetts but local renters insurance providers are
State Farm doesn’t offer policies in Massachusetts (although they’re eventually looking to set up a network of insurance agents in the state). Fortunately, many popular local renters insurance companies have sprung up in their place, including:
- Charles River
Hailstorms are covered by all renters insurance policies, but flooding isn’t
If you live in Boston, you know that the hailstorms can be severe between May and September. Fortunately, hailstorms are a covered peril in your renters insurance, as are any hail-related leaks that may occur inside your home.
The only time you won’t be protected is if your insurer has written specific exclusions for storms into your policy or if the hail causes a flash flood (as we mentioned above, flooding isn’t covered by renters insurance). If you’re unhappy with your current weather coverage, speak to your provider about buying windstorm insurance or flood insurance.
Does renters insurance require a credit check in Massachusetts?
Renters insurance providers will run your credit in Massachusetts. A low score signals to your insurer that you aren’t as financially stable as someone with good credit, and they will charge you more for a policy. For more information on this, see our guide on how to get renters insurance with no credit check.
Can landlords require renters insurance in Massachusetts?
Yes, most landlords will require you to buy renters insurance in Massachusetts before they agree to rent their property to you. They’re within their legal rights to do so.
How we gathered our data on Massachusetts renters insurance prices
We used the information below when applying for renters insurance quotes:
- Insured party: 30-year old male, employed, unmarried, with no pets
- Personal property coverage: $30,000
- Personal liability coverage: $100,000
- Guest medical coverage: $1,000
- Loss-of-use coverage: Insurer’s default (usually based off personal property coverage)
- Deductible: $500
Unless you’re a 30-year old man looking for the same type of policy as we did, the quotes you will receive will be slightly different. This is because insurers use your demographic information and the amount of coverage you want to determine what rate to charge you for renters insurance.
You might also encounter down payments and startup fees with some insurers. If you’re unsure how to avoid them, go to our guide on how to buy renters insurance with no down payment.
The price of renters insurance in Massachusetts: complete data set